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LEGT1710, Week 5 Lecture - LEGT 1710 Business and the Law...

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1 LEGT 1710 Business and the Law Week 5 Contract Law (Cont’d) Capacity/Privity/Vitiating elements Lecturer: Dr Leela Cejnar © 2012 The University of New South Wales Sydney 2052 Australia The original material prepared for this guide is copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission. Enquiries should be addressed to the Head of School, Taxation and Business Law, UNSW, Sydney 2 ASSIGNMENT 1: DUE THIS WEEK HAND TO YOUR TUTOR in your tutorial class this week INCLUDE COVER SHEET (see back of Course Outline) 3 ASSIGNMENT 2 On Blackboard from this Friday 17 August ¾ Contract law, problem question ¾ See Guidelines to Students (attached to the assignment) DUE WEEK 9: MONDAY 17 September, 2012 ¾ See Course Outline (paragraph 4.4) for details about where and how to submit Assignment 2 ¾ Must be submitted ONLINE and in HARDCOPY - Online: Blackboard upload (Turnitin) due Monday 17 Sept by 5pm - Hardcopy (to be placed in ASB Assignment Box 2):due Tuesday 18 Sept by 5pm - See Course Outline (paragraph 4.4) for details about where and how to submit Assignment 2 4 ASSIGNMENT 2 Research materials: ¾ Your starting point: - Paul Latimer’s Australian Business Law , 31 st edn, 2012 - Reading materials on Blackboard (PDFs) ¾ Other research tools: Focus your research on ONLINE materials Look for Cases/Journal articles/Other materials from legal publishers that are available online through UNSW Library database Do NOT bother the UNSW librarians unnecessarily 5 ASSIGNMENT 2 Do not plagiarise – be careful to acknowledge all source materials that you use Provide full names for cases AND full case citations Use references (in-text or footnotes) Include a bibliography at the end of your answer 6 Week 3: Summary Essential elements of a contract: Intention to enter into a legally binding contract “Agreement” ¾ Offer ¾ Acceptance Consideration ¾ Something of value (price) ¾ Exception: Promissory Estoppel
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7 Week 3: Summary Other elements for a valid contract: Legal capacity Genuine consent Legality of purpose Any formal/procedural requirements must be satisfied (See Latimer at ¶5-510 to 5-570) 8 Week 4: Summary Intention to create legal relations ¾ Social/family/domestic/voluntary: implied presumption no intention ¾ Commercial/business: implied presumption there is intention ¾ Both presumptions can be rebutted Terms of a contract ¾ Representation: - Pre-contractual negotiations ¾ Term - Express/Implied - Condition/Warranty - Uncertain/Meaningless/Ambiguous terms - Exclusion/exemption clauses “No liability” Statutory exemptions (to be studied in Consumer Law ) 9 Week 4: Summary Notice of exclusion clause must be given BEFORE contract is made (not afterward) Cases: ¾ Thompson v London, Midland & Scottish Railway Co ¾ eBay International AG v Creative Festival Entertainment Pty Ltd See Latimer at ¶6-210 ¾
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